The Bank of England on Thursday hiked its interest rate 0.75 percentage points, the biggest increase in 33 years, to fight inflation set to peak around 11 percent in recession-hit Britain.
The BoE voted to lift borrowing costs to three percent, the highest level since the 2008 global financial crisis and said Britain was in a recession set to last until the mid-2024.
Copyright DAYBREAK NIGERIA.
All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from DAYBREAK NIGERIA.
© Daybreak Nigeria is a Nigerian newspaper and digital news platform. We report the news as it breaks. Daybreak Nigeria ® is a registered trademark
